Chapter 14

Question 1

Management function that involves monitoring activities to ensure that they’re being accomplished as planned and correcting any significant deviations

Answer 1

Control

Question 2

A three step process of measuring actual performance, comparing actual performance against standard, and taking managerial action to correct deviation

Answer 2

Control Process

Question 3

When the manager is out in the work area working with employees

Answer 3

Management by walking around

Question 4

The acceptable parameters or variance between actual performance and a standard

Answer 4

Range of Variance

Question 5

Types of performance measurement

Answer 5

Personal Observations, Statistical Reports, Oral Reports, Written Reports

Question 6

Control that takes place before a work activity is done

Answer 6

Feedforward Control

Question 7

Control that takes place while a work activity is in progress

Answer 7

Concurrent Control

Question 8

Control that takes place after a work activity is done

Answer 8

Feedback Control

Question 9

Blank are calculated using select information from the organization’s balance sheet and income statement

Answer 9

Ratio Analysis

Question 10

Blank are used for both planning and controlling

Answer 10

Budget Analysis